WESCO International, Inc. (WCC) Downgraded to “Hold” at ValuEngine
ValuEngine cut shares of WESCO International, Inc. (NYSE:WCC) from a buy rating to a hold rating in a research note published on Tuesday.
Several other research firms also recently issued reports on WCC. UBS AG boosted their price objective on shares of WESCO International from $55.00 to $65.00 and gave the stock a neutral rating in a report on Friday, October 27th. Zacks Investment Research lowered shares of WESCO International from a buy rating to a hold rating in a research report on Wednesday, November 1st. Robert W. Baird reissued a hold rating and set a $67.00 price target on shares of WESCO International in a research note on Friday, October 27th. Wolfe Research downgraded shares of WESCO International from an outperform rating to a market perform rating in a research note on Friday, October 27th. Finally, Wells Fargo & Company upped their target price on shares of WESCO International from $67.00 to $75.00 and gave the company an outperform rating in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $68.38.
Shares of WESCO International (NYSE:WCC) traded down $0.45 on Tuesday, reaching $60.70. 133,140 shares of the company traded hands, compared to its average volume of 517,454. The company has a market cap of $2,914.12, a P/E ratio of 16.06, a PEG ratio of 1.60 and a beta of 1.95. WESCO International has a 12-month low of $48.95 and a 12-month high of $76.15. The company has a quick ratio of 1.42, a current ratio of 2.31 and a debt-to-equity ratio of 0.65.
WESCO International (NYSE:WCC) last announced its earnings results on Thursday, October 26th. The technology company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.03 by $0.09. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.93 billion. WESCO International had a net margin of 2.52% and a return on equity of 9.11%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.05 EPS. equities research analysts forecast that WESCO International will post 3.87 EPS for the current year.
A number of large investors have recently bought and sold shares of WCC. Janney Capital Management LLC acquired a new position in shares of WESCO International in the 2nd quarter worth approximately $202,000. D.A. Davidson & CO. lifted its position in shares of WESCO International by 32.0% in the 2nd quarter. D.A. Davidson & CO. now owns 3,572 shares of the technology company’s stock worth $204,000 after purchasing an additional 866 shares during the period. Quantbot Technologies LP acquired a new position in shares of WESCO International in the 2nd quarter worth approximately $238,000. OppenheimerFunds Inc. lifted its position in shares of WESCO International by 14.3% in the 1st quarter. OppenheimerFunds Inc. now owns 5,009 shares of the technology company’s stock worth $348,000 after purchasing an additional 626 shares during the period. Finally, Diamond Hill Capital Management Inc. acquired a new position in shares of WESCO International in the 3rd quarter worth approximately $502,000. Institutional investors and hedge funds own 96.97% of the company’s stock.
WESCO International Company Profile
WESCO International, Inc is a distributor of products and provider of supply chain management and logistics services used in industrial, construction, utility and commercial, institutional and government (CIG) markets. The Company is a provider of electrical, industrial and communications maintenance, repair and operating (MRO) and original equipment manufacturers (OEM) products, construction materials, and supply chain management and logistics services.
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